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Women continue to make great strides in the workforce, achieving increasing levels of education, and advancing into senior leadership positions. However, the gender pay gap — the difference between the earnings of men and women — has barely budged in recent years. In the U.S., women who work full time are typically paid about 80 cents for every dollar paid to their male counterparts, nearly the same disparity that existed two decades earlier. New research shows the gender wage gap decreased by 30% over the last two years, according to the Boston Women's Workforce Council, which was formed a decade ago in partnership with the Boston mayor's office to address this challenge. To be sure, in Boston, women still only earn 79 cents for every dollar a man earns.
Persons: Organizations: Pew Research Center, Boston, Workforce Council Locations: U.S, Boston
Spencer Platt | Getty ImagesThe labor market deteriorated for both Asian and Black workers in November, according to data released Friday by the U.S. Department of Labor. The overall unemployment rate declined 0.2% to 3.7% last month, against a forecast that it would hold steady at 3.9%. Overall, the labor force participation rate ticked up to 62.8% alongside a surge of 532,000 workers into the labor force. For white Americans, the jobless rate fell 0.2 percentage points to 3.3%. Hispanic Americans also saw their unemployment rate slip 0.2 percentage points to 4.6%.
Persons: Spencer Platt Organizations: Oculus, Getty, U.S . Department of Labor Locations: Manhattan , New York City
Job Openings Fall Sharply, Suggesting Weaker Labor Market
  + stars: | 2023-12-05 | by ( Tim Smart | Dec. | At A.M. | ) www.usnews.com   time to read: +3 min
The number of job openings fell sharply in October, to 8.7 million from a downwardly revised 9.35 million a month earlier, according to the Labor Department. The number released Tuesday was lower than economists had forecast and suggests that the labor market is slowing as the year comes to an end. “Job openings dropped to 8,733,000 in October, the lowest level since March 2021. Despite some volatile jumps/drops month-to-month, job openings have been on a downward trend since early 2022,” Daniel Zhao, lead economist and senior manager on Glassdoor’s economic research team, posted on social media. The Federal Reserve will be looking at the latest readings on the labor market as they come one week before officials meet to consider monetary policy.
Persons: ” Daniel Zhao, Jeffrey Roach, Joanie Bily, ” Bily, , Jerome Powell Organizations: Labor Department, LPL, American Staffing Association, ” Nomura Securities, Hollywood, Government, Federal, Fed
While many industries have adopted the practice, tipping is most entrenched in the restaurant industry, where workers rely on gratuities to make up much of their wages. Here's how tipping came to America in the first place, and how it became institutionalized in food services, specifically. But the company that "really institutionalized" tipping, Zagor says, was the Pullman Company, which built and operated railroad cars. But when restaurants were added in 1966, they weren't covered under the typical minimum wage as other industries ultimately were. 'The whole thing is shifted onto the customer'These days, tipping is deeply embedded in the restaurant industry.
Persons: Kerry Segrave's, Stephen Zagor, Zagor, Franklin D, Roosevelt, what's, Harry Holzer, Jena Ellenwood Organizations: Columbia Business School, Employers, Pullman Company, Pullman, Library of Congress, Workers, Companies, Labor, Georgetown University, Brookings Locations: America, Europe, U.S
Federal Reserve Governor Christopher Waller said Tuesday he's growing more confident that policy is in a place now to bring inflation back under control. "But I am increasingly confident that policy is currently well positioned to slow the economy and get inflation back to 2 percent." During the central bank's ongoing battle against inflation, Waller has been one of the more hawkish members, meaning he has favored tighter policy and higher rates. He also noted easing in supply chain pressures that were largely responsible for the initial jump in inflation, but he said that factor can't be counted on to help bring inflation down further. Waller noted easing in inflation gauges such as the consumer price index, which was flat in October and "what I want to see."
Persons: Christopher Waller, Waller's, he's, Michelle Bowman, Waller, Bowman Organizations: Federal, Washington , D.C, CNBC PRO Locations: Washington ,
But contradictory policies are worsening the situation, a think tank said. Russia is deterring potential workers by trying to send them to fight in Ukraine. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementRussia is wrestling with a labor crisis — but making it even worse by sending highly-skilled workers to war, a think tank said. AdvertisementRussia has experienced steep casualty rates in Ukraine, with reports saying that it's lost around 300,000 soldiers.
Persons: , Vyacheslav Volodin, Vladimir Putin, they'd, it's Organizations: Service, RFE, European Council Locations: Russia, Ukraine, Washington, DC, Central
Eurizon strategists forecast US inflation to steadily fall to the Fed's target of 2%. Since the 1990s, Japan's aging population has caused inflation and interest rates to fall. By Eurizon's calculations, Japan's labor force peaked in 2019, at 1.7 times its size from 1950, which suggests an average annual labor force growth rate of 0.77 percent a year through the expansion. Similarly, China's labor force peak from 2018 will likely be pushed back by new policies. Eurizon SLJ Capital LimitedAs more countries follow Japan's demographic path, inflation should follow a similar trajectory.
Persons: , Stephen Jen, Joana Freire, Jen, Freire Organizations: Service, Japan, JPMorgan, Bank of, SLJ, Bank of America Locations: Japan, South Korea, Italy, China, EU, India
Joseph Ataman/CNNAfter many foreign workers fled Israel following the October 7 attacks, farmers were forced to abandon crops or rely on volunteers for the harvest. Inbar’s remaining foreign workers quietly motor up and down the rows of zucchini. Hamas fighters torched the barns holding hay for the dairy cows on Kibbutz Alumim, riding unopposed into the settlement before massacring foreign workers and attendees of the nearby Nova music festival. “The foreign workers run the farm, they do all the milking,” farm manager Stevie Marcus said of the working of the farm before October 7. Joseph Ataman/CNNStanding among Inbar’s zucchini, tech worker Avi Leibovich - volunteering on a day off from his day job - said he came to help Israeli farms survive.
Persons: Thais, Nattaphong Duangchan, Matan, Yosi, Joseph Ataman, Avi Dichter, , Lior Simcha, Stevie Marcus, Yosi Inbar, it’s, Benjamin Netanyahu, Inbar, “ We’re, Lisa Perlman, Inbar’s, Avi Leibovich, Danny Parizada, hadn’t, Mei –, Mei, Organizations: CNN, Hamas, Palestinian, West Bank, Milk Producers Association, United Nations Office, Humanitarian Affairs, of Housing, Brothers, Sisters, Volunteers Locations: Thai, Israel, Gaza, Hamas, Thailand, Thailand’s, Sri Lanka, Israel’s, Egypt, United States, Nova, Kibbutz Alumim, Gaza City, Tel Aviv
In an economy characterized by a volatile stock market and elevated inflation, a sure thing looks better than ever. For some Americans in the labor force right now, that looks like a pension. Striking members of the United Automobile Workers union made waves this year when the union’s leaders demanded the reopening of defined-benefit pension plans for workers hired after late 2007. leadership failed to persuade automakers to reopen the plans, the bold move didn’t go unnoticed by retirement benefit experts. did mention that in their negotiations, because that isn’t really something you would have seen 10 years ago,” said Craig Copeland, director of wealth benefits research at the Employee Benefit Research Institute, a nonprofit organization.
Persons: , Craig Copeland Organizations: United Automobile Workers, Research Institute
Participants' brain and heart readings indicated that videoconferencing caused higher levels of fatigue, sadness, and inattentiveness than did in-person lectures. What sets their findings apart, they added, is that past research on Zoom fatigue has been dependent on participants self-reporting their level of exhaustion in questionnaires. AdvertisementFor example, a 2021 study by Gothenburg and Stanford researchers that involved over 2,700 respondents found that longer Zoom meetings weren't the only causes of fatigue. However, Zoom fatigue may not be as widespread as it seems. A Pew Research Center study surveying 10,000 workers in October 2020 found that fewer than four in 10 said they were worn out by videoconferencing.
Persons: , they've, Rene Riedl Organizations: Service, University of Applied Sciences Upper, Stanford, Pew Research Center Locations: University of Applied Sciences Upper Austria, Gothenburg
Insider looked at employment projections for work related to construction and infrastructure. Both white-collar and blue-collar jobs are poised to boom, with demand for construction laborers and truck drivers, as well as business services. President Joe Biden is also behind the need for more infrastructure construction. Construction and infrastructure jobs are growingConstruction laborers are projected to see employment growth of 61,900 from 2022 to 2032. This job typically requires a postsecondary nondegree award for entry and long-term on-the-job training for competency.
Persons: , Hannah Jones, Joe Biden, Kit Dickinson, Ed Brady, remodelers, Carpenter, Dickinson, Nela Richardson, Brady, Organizations: Service, Law, Georgetown University Center, Education, Workforce, Bureau of Labor Statistics, Home Builders Institute, National Association of Home Builders, BLS
___Their recommendations include securing land rights for women, promoting women's cooperatives and encouraging women to lead on developing climate policy. The link between phenomena like uterine prolapse and climate change is indirect but significant, said Seema Bhaskaran, who tracks gender issues for the nonprofit Transform Rural India Foundation. “It must prioritize awareness programs that emphasize the specific health challenges women face in the wake of climate change as a critical step towards increasing public knowledge. These efforts will also serve as a call to action for governments, institutions, and communities to prioritize women’s health and well-being as a central component of their climate initiatives,” she added. “Definitely there is a very clear recognition that climate has a health impact and health needs to be considered more seriously,” she said.
Persons: Manju Devi, Devi, hadn’t, ___, Seema Bhaskaran, Bhaskaran, Savita Singh, Singh's, Singh, , Babita Kumari, Kumari, Poonam, COP28, Anjal Prakash, Shweta Narayan Organizations: DELHI, India Climate Journalism, Associated Press, Stanley Center for Peace, Security, Press Trust of India, India's, Transform Rural, Foundation, Climate Central, Population Foundation of India, Bharat Institute of Public, Indian School of Business, United Nations, Health, AP Locations: Delhi, Dubai, India, New Delhi, Syaraul, Uttar Pradesh, Nanu, U.S
Workforce participation boosted the labor force in 2023. Photo: KAMIL KRZACZYNSKI/REUTERSFederal Reserve Chair Jerome Powell signaled an important shift this month when he said the central bank didn’t necessarily have to worry about stronger growth feeding through to higher prices. The reason: The U.S. economy’s speed limit, known as potential growth, appears to have temporarily moved up thanks to easing bottlenecks and a boost in the number of people available to work and, possibly, in productivity, or the output that each worker produces.
Persons: KAMIL KRZACZYNSKI, Jerome Powell Organizations: REUTERS
Research prepared for a Boston Federal Reserve labor market conference found that whether driving for Uber to make ends meet or taking piecework jobs in retirement, casual contract workers sometimes don't consider themselves "employed" or even a part of the labor force. The research involved reexamining the detailed responses to a New York Fed survey of "informal work" from 2015 through 2022. Other research looked at how job training and policies towards employing those with a criminal record might help. Their research found many gig workers want additional hours of formal employment, suggesting more untapped labor supply. "And the higher levels of activity and participation can benefit those brought into the labor market, contributing to a vibrant economy that works for all."
Persons: Mike Segar, Uber, Anat Bracha, Mary A, Burke, Bracha, rehashed, Jerome Powell, Susan Collins, Collins, Howard Schneider, Dan Burns, Paul Simao Organizations: REUTERS, Rights BOSTON, Federal, Boston Federal Reserve, Hebrew University Business School, Boston Fed, Fed, New, Labor, Boston, Thomson Locations: New York City , New York, U.S, Jerusalem
Job growth slowed in October and the unemployment rate climbed to 3.9%, the highest level since January 2022. Import prices dropped 0.8% last month after rising 0.4% in September. Economists had forecast import prices, which exclude tariffs, falling 0.3%. In the 12 months through October, import prices declined 2.0% after decreasing 1.5% in September. Excluding fuels and food, import prices dropped 0.2% after dipping 0.1% in September.
Persons: Andrew Kelly, Nancy Vanden Houten, Unadjusted, Goldman Sachs, Lou Crandall, Wrightson, Lucia Mutikani, Andrea Ricci Organizations: REUTERS, Labor Department, Oxford Economics, Reuters, Goldman, Treasury, Fed, Reuters Graphics, Labor Department's Bureau of Labor Statistics, Consumer, Thomson Locations: Manhattan , New York City , New York, U.S, WASHINGTON, New York, Massachusetts, Oregon, Georgia, United States, China
"I believe that a 'soft landing' is possible, with continued disinflation and a strong labor market, but it is not assured," Cook said in remarks prepared for delivery to a San Francisco Fed conference on Asian economic policy. "I see risks as two-sided, requiring us to balance the risk of not tightening enough against the risk of tightening too much." Meanwhile, Cook noted, other global central banks have also tightened policy rapidly. "But in a world of uncertainty it is hard to judge the exact size of these spillovers." Reporting by Ann Saphir; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.
Persons: Lisa Cook, Jonathan Ernst, Cook, bank's, there's, Ann Saphir, Paul Simao Organizations: Federal Reserve, of Governors, Capitol, REUTERS, FRANCISCO, Federal, San Francisco Fed, U.S, Thomson Locations: Washington , U.S, U.S
A new report suggests there will likely be more Gen Zers working full-time than boomers by early 2024. Meanwhile, some Gen Xers are getting ready to make retirement decisions. That shift in demographics is expected to change how employers attract young talent since Gen Zers have different priorities compared to their older colleagues. "We know that the types of workplace culture and benefits that Gen Z values is different than baby boomers." "Particularly in contrast to Gen Z, Gen X is a little bit more cautious about asking and demanding change and transparency and voice in the workplace," Terrazas said.
Persons: millennials, Xers, , Gen Zers, Aaron Terrazas, Terrazas, Zers, Z, Chelsea Williams, Williams, Gen, they're, Gen Z, X Organizations: Service, Business, Pew Research Locations: millennials
LONDON (AP) — Russia's State Duma took a step forward Wednesday towards approving its biggest-ever federal budget which will increase spending by around 25% in 2024, with record amounts going on defense. Part of the Russian budget is secret as the Kremlin tries to conceal its military plans and sidestep scrutiny of its war in Ukraine. Analysts suggest Russia is in third place globally for defense spending behind China and the United States, which spends around $850 billion a year. The main driver of that growth is Russia's war in Ukraine, which is now as important to the Kremlin economically as it is politically. If there is a reduction in military spending, or a need to reduce spending which impacts living standards, it could send shockwaves through the Russian economy and significantly impact ordinary people.
Persons: Vladimir Putin, , Richard Connolly, Farida Rustamova, Maksim Tovkaylo, Alexandra Prokopenko, Anton Siluanov, , Connolly, they’ve, ” Prokopenko, Prokopenko, — — David McHugh Organizations: , Duma, Kremlin, Royal United Services Institute, Independent, Carnegie Russia Eurasia Center, Russian Central Bank, Finance, Defense, Central Bank Locations: — Russia's, Russia, Ukraine, London, China, United States, Russian, West, India, Berlin, Frankfurt
The mid-Atlantic state registered a record unemployment rate of 1.6% in September — less than half the national unemployment rate of 3.8% that month — Labor Department data shows. That’s the lowest seasonally adjusted unemployment rate of any state on records going back to 1976, according to a CNN analysis. However, Maryland’s job market is still robust, with government and health care employers adding jobs at a brisk pace. Here’s a dive into the labor market of the state with the lowest unemployment rate in American history:Where the jobs areThe biggest industries in Maryland are government, health care, education and professional services. Fort Meade, a military base, is the largest employer in the state, according to Moody’s Analytics.
Persons: ” Christina DePasquale, Johns, Colin Seitz, , ” Seitz, There’s, , Mary Kane, what’s, Kane, ” Daniel Zhao, ” Zhao Organizations: DC CNN, — Labor Department, CNN, Baltimore, Fort Meade, University, of Maryland, Johns Hopkins University, Labor Department . State, Health, Johns Hopkins Carey Business School, Moody’s, Maryland, Bureau of Labor Statistics, Maryland Hospital Association, Labor, Maryland Chamber of Commerce, , Maryland Department of Labor, DC Locations: Washington, Atlantic, California, Lexington, Maryland, Fort, Florida, Texas, Virginia
Emirates is a heavyweight when it comes to East-West travel out of Dubai International Airport, the world's busiest for international travel. In March, the airline announced an order of up to 72 Boeing 787-9 Dreamliner jetliners and has further plans to expand. Other purchases Tuesday included:— Emirates announced $1.2 billion in deals with French firm Safran, including for seats. — Emirates announced plans for a $950 million maintenance facility at Al Maktoum International Airport, the city-state's second airfield. — Boeing and SCAT Airlines of Kazakhstan announced the airline would purchase seven Boeing 737 MAX aircraft.
Persons: , Tim Clark's, FlyDubai, Clark, ” Clark, — Rafael, , they’ve, , Mesfin Tasew, Safran, — EgyptAir Organizations: United Arab Emirates, Emirates, Airbus, Royce, Dubai Air, Boeing Co, Boeing, Ethiopian Airlines, Al Maktoum International Airport, Rolls Royce, Associated Press . Emirates, Dubai International Airport, Ben Gurion International, Defense Systems Ltd, Israel Aerospace Industries, IAI, Courage Meets Technology, Riyadh Air, Dubai, United Nations, Aviation, SAF, Ethiopian, Boeing MAX, MAX, — Emirates, Al, Airlines Locations: DUBAI, United Arab, Al Maktoum, East, West, Dubai, Israel, Gaza, Emirates, Tel Aviv, Riyadh, Saudi, Saudi Arabia, Sydney, Australia, Addis Ababa, Kazakhstan
Commercial and residential properties stand on the city skyline in Zurich, Switzerland, on Wednesday, Nov. 11, 2015. Switzerland is once again the world's most talent-competitive country, according to the 2023 Global Talent Competitiveness Index by business school INSEAD. The annual report measures how 134 countries draw in, grow and retain their talent. The top-ten countries have remained steady over the past decade, with Switzerland and Singapore consistently topping the charts as "clear leaders." "Over the past decade, we've seen an unwavering link between a country's wealth and its talent competitiveness, with richer economies continuing to outshine poorer economies," the report stated.
Persons: we've Organizations: U.S Locations: Zurich, Switzerland, Singapore
Why the golden age of remote work may be coming to an end
  + stars: | 2023-11-10 | by ( Anuz Thapa | ) www.cnbc.com   time to read: +1 min
Finding fully remote work is getting challenging. "Some of the pushback remote work is driven by concerns about productivity," said Kory Kantenga, senior economist at LinkedIn. During the pandemic, remote work became the darling of the corporate world, and companies going fully remote became the new normal. "Remote work was thrust upon us basically by the pandemic," said Nicholas Bloom, professor of economics at Stanford University. "Before the pandemic, remote work was pretty rare.
Persons: Kory Kantenga, Nicholas Bloom, it's, Elon Musk, CNBC's David Faber, It's Organizations: LinkedIn, Census Bureau, Stanford University Locations: U.S, America, la la
Two recession indicators are on the verge of flashing as the unemployment rate ticks higher and the yield curve uninverts. "With labor supply increasing, we're not sure the Sahm rule, even if it triggers, would really be indicative of a recession." AdvertisementAdvertisementThere are two recession indicators that are on the verge of flashing, but even if they do flash stock market investors can rest easy. Last month, the unemployment rate rose to 3.9%, up 50 basis points from its cycle low of 3.4% in April. "That's why a small increase in the unemployment rate can be really bad news, because it keeps going," she explained.
Persons: we're, , Carson, Sonu Varghese, Sahm, Claudia Sahm, Varghese Organizations: Service, CNBC, Treasury
“Las Vegas needs to be full service," he said last month. But by dawn Friday, the union had secured tentative labor deals with MGM Resorts, Caesars and Wynn Resorts, narrowly averting a sweeping strike at 18 hotel-casinos along the Strip. Before the pandemic, daily room cleanings were routine. Some companies say it's because there are environmental benefits to offering fewer room cleanings, like saving water. A spokesman for Wynn Resorts said they already offer daily room cleanings and did not cut back on that service during the pandemic.
Persons: Ted Pappageorge, , Wynn, weren't, Pappageorge, bellman, , David Edelblute, Rory Kuykendall, Jennifer Black, Organizations: LAS VEGAS, Las, Culinary Workers Union, MGM Resorts International, Caesars Entertainment, Wynn Resorts, MGM Resorts, Caesars, MGM, Associated Press, Flamingo Locations: Las Vegas, Vegas, , Flamingo Las Vegas
In 1916, the US began forcing Mexicans that crossed the border to bathe in a mix of kerosene and vinegar. A US immigration officer talks to Mexicans in El Paso, Texas, 1916. El Paso was considered to have the ideal dry, warm climate to combat tuberculosis, and so, multiple sanatoriums were built in the city. AdvertisementAdvertisementAs a result, Mexicans and Mexican Americans who lived along the border developed a deep fear of the baths, Levya said. In total, the government is thought to have bathed 127,123 Mexicans at the bridge between Juárez and El Paso.
Persons: , Thomas Calloway Lea Jr, B.J, Lloyd, Bettmann, Carmelita Torres, Torres, PhotoQuest, Lea, David Romo, Tom Lea, Dr, Yolanda Chavez Levya, Levya, Leonard Nadel, Levya's, Torres –, Gerhard Peters, Peters Organizations: Service, Public Health, Riots, Mexican, Labor, Ku Klux Klan, Tom Lea Institute, The University of Texas, US, El, Public Service Health, Hidalgo Processing Center, Archives Center, National Museum of, Smithsonian, US Public Health Service Locations: Mexico, United States, El Paso , Texas, El Paso, Mexican, Hidalgo, Texas, East, Southeast Asia, Juárez, El Paso ., German, Nuremberg
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